Amid the ongoing West Asia conflict, the Government on Friday, 27th March confirmed that fuel supplies across the country remain stable and there will be no increase in petrol and diesel prices.
#WATCH | The conflict in the Middle East has affected India’s supplies of crude oil, LPG, and LNG. Crude prices, along with other petroleum products, have risen in the international market. However, the Government of India has taken several important decisions at different levels… pic.twitter.com/TmTC6NYVzT
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Speaking at the briefing, Sujata Sharma, Joint Secretary (Marketing & Oil Refinery), said that the tensions in the Middle East have increased the prices of crude oil and other petroleum products, affecting supplies worldwide. However, she assured that India is in a stable position and has taken several timely steps to manage the situation.
She further stated that currently, there is enough crude oil in the country, with enough supplies secured for at least the next two months. Refineries across India are running at full capacity, and in some cases even higher, to meet demand. Domestic LPG production has also seen a sharp rise of nearly 40%, helping ease pressure on imports.
Highlighting India’s dependence on imports, she noted that around 90% of LPG imports pass through the Strait of Hormuz. In order to tackle this problem, the government first ensured the full supply to the households. The supply of LPG for commercial use was stopped, which was gradually resumed in phases: 20%, then 10% in addition to the 20%, later 50%, and now 70%.
Since 14th March, nearly 30,000 tonnes of commercial LPG has been supplied. Priority has been given to essential services like restaurants, roadside eateries, hotels, industrial canteens, and migrant workers. Additionally, 30,000 small cylinders of 5 kg capacity have also been distributed to migrant labourers. Some of the major sectors that have also been prioritized include steel, automobiles, textiles, chemicals, and plastics.
She also talked about the rumours of fuel shortage that had created long queues in some areas. She said there is no shortage of petrol, diesel, LPG, LNG, and PNG in the country. Despite the rise in crude oil prices in the world market from $70 to over $100, the government has ensured the availability of petrol and diesel in the country and has not increased the prices of petrol and diesel like other countries in the region.
